BitGo Collaborates with CoinDesk Indices to Offer Custody Solutions for CoinDesk 20 Index

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May 22, 2024, 09:02 ET

The CoinDesk 20 Index has generated institutional demand with approximately $5 billion in perpetual futures volume since January 2024

NEW YORK, May 22, 2024 /PRNewswire/ -- CoinDesk Indices, the leading provider of digital asset indices since 2014, today announced a collaboration with BitGo, the leading digital asset custodian and wallet solutions provider, to offer custody of the underlying assets that make up the CoinDesk 20 Index to global institutions and advisors seeking access.

Launched in January 2024, the CoinDesk 20 Index addresses the growing demand from institutional investors for more diverse portfolio options beyond bitcoin ETFs. It tracks the performance of top digital assets, applying a capped market capitalization weighted methodology to ensure diversification. Designed for scalability, the CoinDesk 20 Index has already been adopted by leading market making firms.

"We have seen demand for accessing a turnkey broad-based digital asset solution," said Adam Sporn, Head of Prime Brokerage and U.S. Institutional Sales, BitGo. "By leveraging our institutional expertise as custodians, we're excited to partner with CoinDesk Indices and provide our customer base with access to the top digital assets within the CoinDesk 20 Index, as investors seek to increase exposure to digital assets beyond Bitcoin."

Following CoinDesk 20's launch earlier this year, Bullish—the fastest-growing regulated digital asset exchange—launched a new perpetual futures contract on the index, marking an industry first. The CoinDesk 20 perp has attracted substantial institutional interest, driving a trading volume of approximately $5 billion since launch.

"Recognizing institutional investors are increasingly interested in accessing the broader market, the CoinDesk 20 was constructed to support the largest and most traded financial products," said Alan Campbell, President of CoinDesk Indices. "We are thrilled to partner with a market leader like BitGo to enable access to the CoinDesk 20, a seamless way to measure, trade, invest, and stake in the growing digital asset class."

For more information on BitGo visit www.bitgo.com.

To learn more about the CoinDesk 20 Index, please visit: coindeskmarkets.com/cd20.

About CoinDesk Indices
Since 2014, CoinDesk Indices has been at the forefront of the digital asset revolution, empowering investors globally. A subsidiary of Bullish, our indices form the foundation of the world's largest digital asset products. Known for their precision and compliance, flagships such as the CoinDesk Bitcoin Price Index (XBX) and the CoinDesk 20 Index set the industry standard for measuring, trading, and investing in digital assets. With tens of billions of dollars in benchmarked assets, CoinDesk Indices is a trusted partner. Discover more at coindeskmarkets.com.

About BitGo
BitGo provides the most secure and scalable wallet solutions for the digital asset economy, offering regulated custody, staking and trading, and core infrastructure to investors and builders alike.
Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade staking, DeFi, NFT and Web3 services. BitGo secures approximately 20% of all on-chain Bitcoin transactions by value and supports more than 700 digital assets within its platform. BitGo provides the security and operational backbone for more than 1500 institutional clients in 50 countries, including many regulated entities and the world's top cryptocurrency exchanges and platforms.
BitGo is backed by Goldman Sachs, Craft Ventures, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For more information, please visit http://www.bitgo.com

CoinDesk Indices disclaimer: CoinDesk is a portfolio company of the Bullish group. CoinDesk Indices, Inc. ("CDI") does not sponsor, endorse, sell, promote or manage any investment offered by any third party that seeks to provide an investment return based on the performance of any index. CDI is neither an investment adviser nor a commodity trading advisor and makes no representation regarding the advisability of making an investment linked to any CDI index. CDI does not act as a fiduciary. A decision to invest in any asset linked to a CDI index should not be made in reliance on any of the statements set forth in this document or elsewhere by CDI. All content contained or used in any CDI index (the "Content") is owned by CDI and/or its third-party data providers and licensors, unless stated otherwise by CDI. CDI does not guarantee the accuracy, completeness, timeliness, adequacy, validity or availability of any of the Content. CDI is not responsible for any errors or omissions, regardless of the cause, in the results obtained from the use of any of the Content. CDI does not assume any obligation to update the Content following publication in any form or format. © 2024 CoinDesk Indices, Inc. All rights reserved.
BitGo Disclaimer: The information in this press release is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Custody services are offered through BitGo Trust Company, a South Dakota chartered trust company. BitGo is not registered with the SEC as an investment advisor or custodian, and does not offer legal, tax, investment, or other advice. Please consult your legal/tax/investment professional for questions about your specific circumstances. BitGo Trust Company, BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA.

SOURCE CoinDesk Indices